Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
The Lost Book of Sales
FEBRUARY 1, 2021
The limits of compounding The $ 24 real estate investment by the Dutch to buy the island of Manhattan would today, by some estimates, be roughly equivalent to $ 3 trillion. At best, they are merely the beginning of a proper calculation of intrinsic valuation, not the end. Few businesses survive over multiple generations.
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